Oregon Pacific Wealth Management LLC Grows Stake in Salesforce Inc. (NYSE:CRM)

Oregon Pacific Wealth Management LLC increased its stake in Salesforce Inc. (NYSE:CRM) by 9.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,227 shares of the CRM provider’s stock after buying an additional 106 shares during the quarter. Oregon Pacific Wealth Management LLC’s holdings in Salesforce were worth $329,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LFA Lugano Financial Advisors SA grew its stake in shares of Salesforce by 177.4% during the first quarter. LFA Lugano Financial Advisors SA now owns 172 shares of the CRM provider’s stock valued at $46,000 after acquiring an additional 110 shares in the last quarter. Arbor Trust Wealth Advisors LLC grew its stake in Salesforce by 2.4% during the 1st quarter. Arbor Trust Wealth Advisors LLC now owns 7,119 shares of the CRM provider’s stock valued at $1,910,000 after purchasing an additional 170 shares in the last quarter. Pictet North America Advisors SA increased its holdings in Salesforce by 3.4% during the 1st quarter. Pictet North America Advisors SA now owns 10,287 shares of the CRM provider’s stock worth $2,761,000 after purchasing an additional 338 shares during the last quarter. Vermillion Wealth Management Inc. raised its position in shares of Salesforce by 138.9% in the 1st quarter. Vermillion Wealth Management Inc. now owns 172 shares of the CRM provider’s stock valued at $46,000 after purchasing an additional 100 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its stake in shares of Salesforce by 181.5% during the 1st quarter. DAVENPORT & Co LLC now owns 18,799 shares of the CRM provider’s stock valued at $5,045,000 after buying an additional 12,120 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In related news, Director Oscar Munoz purchased 3,882 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The stock was acquired at an average price of $257.28 per share, for a total transaction of $998,760.96. Following the transaction, the director directly owned 11,843 shares of the company’s stock, valued at $3,046,967.04. This trade represents a 48.76% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider R David Schmaier sold 6,959 shares of Salesforce stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the completion of the transaction, the insider directly owned 36,090 shares in the company, valued at $9,141,957.90. This represents a 16.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,534 shares of company stock valued at $7,609,842 in the last three months. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Jefferies Financial Group dropped their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Stephens decreased their price target on Salesforce from $311.00 to $309.00 and set an “equal weight” rating for the company in a research note on Friday, May 30th. Sanford C. Bernstein upped their price target on Salesforce from $243.00 to $255.00 and gave the company an “underperform” rating in a research report on Thursday, May 29th. Canaccord Genuity Group reduced their price objective on Salesforce from $400.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday, May 28th. Finally, Erste Group Bank lowered shares of Salesforce from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $349.08.

Salesforce Stock Down 0.3%

Shares of CRM stock opened at $271.86 on Wednesday. Salesforce Inc. has a 1 year low of $230.00 and a 1 year high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. The business’s fifty day moving average is $271.69 and its 200-day moving average is $293.08. The stock has a market cap of $259.90 billion, a PE ratio of 42.54, a price-to-earnings-growth ratio of 2.47 and a beta of 1.37.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The firm had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. During the same period in the previous year, the company earned $2.44 earnings per share. Salesforce’s revenue was up 7.6% compared to the same quarter last year. Equities analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be given a $0.416 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.61%. Salesforce’s dividend payout ratio (DPR) is 25.98%.

Salesforce Company Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.